Hershey Co. has been given the green light by India’s Foreign Investment Promotion Board for its proposed acquisition of a 51% stake in the Indian food and drink group Godrej Beverages, local reports have said.


The Economic Times of India reported that the US confectionery giant will acquire the 51% stake in Godrej Beverages, part of Godrej Industries Ltd., for INR2.38bn (US$55m). The acquisition will be made up of a 40% stake bought from the private equity arm of IL&FS, and additional shares, a source close to the deal said.


As just-food earlier reported, the deal has been rumoured to be happening since February. Reports back then suggested that following the acquisition, parent Godrej Industries would hold 43% of the food and drinks group, while 6% would be held by a senior executive within the Godrej group.


Godrej manufactures tea, edible oils, beverages, packaged foods and confectionery.


Earlier in the year, Hershey’s formed a joint venture with Korea’s leading confectionery and ice cream maker Lotte Confectionery to manufacture Lotte and Hershey products for the Chinese market.

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

Just Food Excellence Awards - Have you nominated?

Nominations are now open for the prestigious Just Food Excellence Awards - one of the industry's most recognised programmes celebrating innovation, leadership, and impact. This is your chance to showcase your achievements, highlight industry advancements, and gain global recognition. Don't miss the opportunity to be honoured among the best - submit your nomination today!

Nominate Now